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RNS Number : 7506Z

Michelmersh Brick Holdings PLC

18 May 2023

18 May 2023

Michelmersh Brick Holdings Plc

("MBH", the "Company" or the "Group")

AGM Statement

Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer, announces that at its Annual General Meeting (AGM), which is to be held at 11.00 am today, Martin Warner, Chairman, will make the following statement:

"Since reporting our full-year 2022 results in March, we have continued to add to our quality forward order book with resilient order intake for our broad product portfolio from our loyal customer base and distributor relationships across our end markets, whilst production volumes have continued in line with expectations. We are also very pleased with the start to the year at FabSpeed, our leading brick fabricator and manufacturer of off-site pre-built brick products, in our first full year of ownership. FabSpeed provides a product range which will deepen our distribution relationships even further by meeting more of the needs for our end markets, and the business continues to perform in line with our expectations.

"Wider demand across the construction industry has been impacted by the higher interest rate environment and we are focused on appropriate portfolio pricing to maintain an end market spread in our forward order book drawn from social and specification housing, RMI, new build and commercial sectors.

"The Board remains confident that the quality fundamentals in our business continue to provide resilience to our outlook. The Group has made a robust start to 2023, and combined with our balanced forward order book, we remain on track to meet full-year expectations."

Pending approval by shareholders at the AGM, the final dividend in respect of the year ended 31 December 2022 of 2.95 pence per ordinary share will be paid on 12 July 2023 to members on the register on 9 June 2023, the ex-dividend date will be 8 June 2023.

For further information, please contact:

 
 Michelmersh Brick Holdings Plc                Tel: +44 (0)1825 
  Frank Hanna, Joint Chief Executive Officer    430 412 
  Ryan Mahoney, Chief Financial Officer 
 Canaccord Genuity Limited (NOMAD and          Tel: +44 (0)20 
  Joint Broker)                                 7523 8000 
  Max Hartley 
  Bobbie Hilliam 
  Harry Pardoe 
 Berenberg (Joint Broker)                      Tel: +44 (0)20 
  Richard Bootle                                3207 7800 
  Detlir Elizi 
  Yasmina Benchekroun 
 Yellow Jersey PR                              Tel: +44 (0)7747 
  Charles Goodwin                               788 221 
  Annabelle Wills                               Tel: +44 (0) 7775 
                                                194 357

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and Hathern Terra Cotta. These divisions operate within a fully integrated business, combining the production of premium, precision-made bricks, pavers, special shaped bricks, bespoke Terra Cotta products and prefabricated brick components. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997, the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 122 million clay bricks and pavers per annum. Michelmersh currently owns most of the UK's premium manufacturing brick brands and is a leading specification brick and clay paving manufacturer.

Michelmersh strives to be a well invested, long term, sustainable, environmentally responsible business. Opportunity, training and security for all employees, whilst meeting the needs of stakeholders are at the forefront of everything we do. We aim to lead the way in producing some of Britain's premium clay products and enhancing our environment by adding value to the architectural landscape for generations to come.

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

   Please visit the Group's websites at:   www.mbhplc.co.uk  and www.bimbricks.com

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May 18, 2023 02:00 ET (06:00 GMT)

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